APR Calculator
Find a loan's true APR — the rate including fees — so you can compare offers that quote the same interest rate but hide different costs.
True APR
—
Monthly payment —
Total fees + interest —
✉ Email me this result
</> Embed this calculator
Paste this into any website or blog post. It is free — the small "powered by" link must stay visible.
How it works
APR solves: (loan − fees) = payment × (1 − (1+i)⁻ⁿ)/i, annualizedFrequently Asked Questions
What is the difference between interest rate and APR?
The interest rate prices the borrowing itself; APR also spreads one-time fees (origination, points, closing costs) across the term. Two loans at 6.5% can have APRs of 6.6% and 7.1% — the APR reveals the truly cheaper one.
Why is APR higher than the note rate?
Because you effectively receive less than you repay: fees reduce the money in your pocket, but payments are computed on the full amount. The gap is largest on short loans with big fees.
Is APR the full story?
Almost — APR assumes you keep the loan to term. If you will sell or refinance early, upfront fees hurt more than APR suggests, so low-fee loans win for short horizons.